I have a doubt on service tax payments - we have started our company recently, we are engaged in VFX Creations & Graphics Designing Services. We have two projects, recently we have received advance payments from our clients still we have not raised Invoice them, but it will take time to raise Invoice. Here my doubt is for these advance receipts should I have pay service tax? Project i will not complete in this finical year. So, I am unable to raise Invoice. Then how can utilize this service tax and how can I setoff these payments in future? Please guide me.
CAclubindia
